As we navigate through the golden years, we’re no strangers to change, especially when it comes to technology. From the introduction of colour television to the rise of the internet, we’ve seen it all. And now, there’s a new shift on the horizon that’s set to revolutionise the way we shop – a fully automated, cashless shopping experience.
Imagine walking into a store, picking up what you need, and simply walking out without the hassle of queues or checkout counters. This isn’t a scene from a futuristic movie; it’s a reality now made possible by the innovative technology from Mastercard and AiFi.
This new technology, which was showcased at an Australian Open convenience store pop-up, is designed to make shopping faster, more seamless, and easier for customers. It uses artificial intelligence to track your movements and items you pick up in the store. All you need to do is tap your card or smart device to enter, and the cameras do the rest.
Here’s how it works: upon entering, you’ll tap your payment method on a terminal, which places a temporary $1 hold on your card. As you shop, cameras equipped with spatial intelligence track your selections. When you’re ready to leave, your card is charged for the items you’re taking with you, and you can scan a QR code for a receipt. It’s shopping made simple, with no surcharges or need for scanning items or interacting with a cashier.
But what does this mean for us, the consumers? Steve Carlin, CEO of AiFi, suggests that we’ll benefit from lower wait times and improved checkout efficiency. Plus, there won’t be any surcharges for using our cards, which is a relief considering the hundreds of millions of dollars Australians pay collectively in card fees.
For retailers, the transition to this technology could be a mixed bag. While they may face costs associated with implementing the new camera service, there are potential savings too. The system could reduce the need for expensive shelf sensors and is adaptable to various store sizes. It’s also a strong deterrent against shoplifting and checkout fraud, as customers are monitored and their payment details are already on file.
Now, let’s address the elephant in the room: job security. With this technology, it’s possible to run a store without any physical staff. However, according to Surin Fernando of Mastercard Australasia, there may still be a need for employees to assist with customer inquiries, payment issues, or other duties. It’s a matter of balance and understanding what’s important for each retailer.
And what about those who prefer to use cash? It’s true that the number of Aussies using cash has decreased, but there are still many who rely on physical money. These individuals might face challenges with cashless businesses, and under the new system, they wouldn’t be able to enter the store without a digital payment method. Retailers will need to consider how to accommodate cash users, possibly through a hybrid store model.
What do you think about this new cashless and fully automated shopping experience? Do you see it as a convenient upgrade, or are there aspects like accessibility for cash users and job security that concern you? We’d love to hear your thoughts in the comments below!
Also read: Older Australians ‘left behind’ by increasingly cashless society
More problems on the horizon if this is instigated will only suite the highly tech savey people even then there will probably be issues
Sounds fantastic.
This is the thin edge of the wedge! Do I want a totally cashless society….no way! I will NOT support any changes that make us vulnerable to being controlled by anyone or any organisation. They will then have the power to literally shut off all access to food, energy or any other basic needs if we don’t comply with their demands. Blind Freddy can see where this is headed.
Don’t like this idea at all. No jobs for the younger generations and what staff will be there to sort out all the problems of being incorrectly charged for items. What happens in the event of a power failure or computers going down for long periods of time. Mass chaos. No thanks – I don’t want AI following me either.
What happens to the older people who don’t have a smart phone, or the younger ones that can’t afford one? What happens to businesses that work on cash because they aren’t able to set up for this sort of thing. What happens if a friend buys you something they know you want but haven’t had a chance to get and you want to pay them for it? What about a friend’s daughter who babysits? Cashless is not an option.
I won’t ever use them!!!
I’m a cash only person, and will NEVER use my card if I have cash on me. I withdraw my spending & food cash each fortnight and use that only. If I don’t have the cash, I just won’t buy it, it’s as simple as that.
I don’t want a 6-8 page bank statement to reconcile each month – 2-3 pages is bad enough.
Any cash left over at the end of the fortnight goes into my money jar and gets banked when I have enough to warrant a trip to the bank.
I use MYOB (I’m a retired bookkeeper) to keep a track in my money & spending.
Hey there, a whole lot of problems with this type of system such as in the stories you have already reported on where the barcode was scanning at multiple items instead of one, you will not know if you don’t scan the QR code which a lot won’t do because of the inconvenience, there is enough problems now with items not scanning correctly as for the cashless part stores don’t have the right to refuse cash because it is legal tender.
No way is this an acceptable proposition. We use cash as much as possible, and I won’t purchase from any business that does not accept cash. I certainly wouldn’t scan my phone when I enter a supermarket. As it is, we only use manned checkouts – firstly it is a job for many people, and secondly the supermarkets don’t offer a discount for you doing all of the work at the self-checkout. For a while I covered the camera on the self-checkouts, and then stopped using them altogether.
This type of technology they are talking about is the thin end of the wedge by govt and institutions trying to control our spending habits.🦅
And, as usual, the customer (or “pleb” as we are probably called) will be most inconvenienced. All this technology is fine, I suppose, but we’re just one step away from a lightning strike or terroristic attack from having to live off the grid, and no-one seems set up for this once the technological infrastructure is established. As someone living within spitting distance of cyclones and bushfires, it’s automation like this that threatens one’s ability to flee natural – or otherwise – disasters, yet no-one seems to care to factor this in. When Seroja blew through we couldn’t buy generators or petrol for weeks due to no electricity. As a single person with no family I had no-one to rely on for help, but what does one cog in the wheel matter, I’m only a statistic, and an elderly one at that. It’s money and clout that wins the day, as we innovate our way to the end of first-world civilisation as we know it.
No way. What a soulless experience shopping will be. No jobs for checkout staff of all ages. No interaction with the staff. It may not be possible to get cash out at the terminal and that is safer than getting cash out at an outside wall ATM . At times prices in the store do not match those at the checkout terminal, which is always higher. We wouldn’t know until the receipt is printed and some don’t bother getting a receipt.
I expect that it would be a hybrid roll-out. Checkout free for the younger generation and others who think they are too busy to be bothered with liaising with a staff member and the status quo for those of us who use cash or card and want to keep employment and chatter with the current staff.
If you request a receipt, will it be an EFTPOS Receipt or will it be the full Cashiers Receipt listing all items and their prices, and how will you know if the item has “scanned” incorrectly ??
It would be a very BIG NO from me !!!!
Yes I’m a cash person only ,and never use card at all